Ethics and Client Management
Overview
This unit prepares students to engage advanced critical and reflective skills in analysing the ethical principles and standards of professional practice in financial services, and to understand (and effectively apply) the legal compliance requirements of the financial adviser profession. Students learn to identify complex ethical issues and propose sound solutions; effectively apply resources available in support institutions; and use creative skills to improve the ethics regime of the profession. Client management concepts and principles are practised in the context of: enhancing communication, conflict resolution and trust building skills; developing ethical and legally compliant solutions to systemic problems; and applying recent theoretical developments in social psychology and behavioural finance to foster ethical cultures.
Requisites
08-June-2025
08-February-2026
Learning outcomes
Students who successfully complete this unit will be able to:
- Apply legal and regulatory requirements in professional contexts, and evaluate legal and moral consequences of non-compliance
- Critically analyse complex situations that may lead to conflicts of interests and unethical behaviour, and provide ethical and professional solutions
- Demonstrate advanced communication skills and effective application of client engagement psychology in financial planning contexts
- Critically reflect on cognitive and behavioural patterns in financial decision making, and provide ethical client management solutions
- Work effectively as a leader or a member of a team
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Face to Face Contact (Phasing out) Class | 3.00 | 12 weeks | 36 |
| Unspecified Learning Activities (Phasing out) Independent Learning | 9.50 | 12 weeks | 114 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 2.00 | 12 weeks | 24 |
| Unspecified Learning Activities (Phasing out) Individual Study | 10.50 | 12 weeks | 126 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Online Discussion | Individual | 10 - 20% | 1,2,3,4 |
| Presentation and Report | Group | 30 - 40% | 1,2,3,4,5 |
| Reflective Essay | Individual | 30 - 50% | 1,2,3,4 |
| Test | Individual | 10 - 20% | 1,2 |
Content
- Financial planning best interest duty: professional and legal requirementsÂ
- The ethics regime; frameworks and decision making
- Applying and comparing code of ethics in financial planning practice
- Ethical issues and dilemmas in financial planning services
- Conflicts of interest: understanding and managing systemic sources
- Advanced applications of professional conduct: applying integrity, resisting power pressure, and giving voice to values
- Behavioural finance: managing individual congnitive bias and improving heuristics
- Advanced ethical reasoning and social intuitionist approaches to decision making
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.